Do You Need Full Coverage on a Used Financed Car?

car insurance paperwork with car key

If you’re in the market for a new-to-you vehicle for your Mesa commute, then you’re probably wondering if you need to purchase full coverage insurance. So, do you need full coverage on a used financed car? In most states the answer is no. Most Chandler drivers only need proof of liability insurance before they can drive off the lot. Learn more about how to finance a used car with Berge’s Riverview Toyota below, or contact our team if you have any specific questions about auto insurance.


How to Finance a Used Car

Most states won’t require Gilbert drivers to have full coverage insurance to drive off the lot in a new or used vehicle. However, the lender drivers choose for their loans may require full coverage insurance to protect their investments. If you’re considering getting a loan from a bank or a private lender, check the terms of your agreement to see if you need full insurance coverage on your vehicle.

For most cases, full coverage insurance is contingent on the full term of the finance period. This means that your used vehicle would need to have full coverage insurance for the duration of your loan term.

How Many Years Can You Finance a Used Car?

When you apply for financing for a new or used vehicle at a Scottsdale dealerships, you’ll need to provide certain information to the finance department so they can contact lenders on your behalf. To begin the car buying process, you’ll need to provide the following:

  • Valid Driver’s License
  • Valid Car Insurance Card
  • Any supporting financial documentation (i.e. last two pay stubs)
  • Any existing vehicle documentation for your current vehicle (if applicable)

How many years can you finance a used car? That will depend on a few different factors. Factors like your credit score and the amount you’re able to put as a down payment will affect how long or short your loan term will be. The average loan term for a used vehicle is around three to five years.

Get a Used Vehicle at Berge’s Riverview Toyota

Let the finance experts at Berge’s Riverview Toyota help you find the perfect used vehicle for your Mesa needs and get you the loan term and insurance coverage you need to be compliant with the law and your lender. Apply for financing today to receive and offer and begin the car buying process!

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2020 West Riverview Auto Drive • Mesa, AZ 85201

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Berge’s Riverview Toyota 33.434861, -111.870447.